In Southern California, Filipinos are hoping to empower each other in the business world by pushing for franchising opportunities.
Filipino American business leaders are hoping international business between the US and the Philippines can boom.
The Coalition of Filipino American Chambers of Commerce, which makes up 6 Filipino American businesses, hosted the first Franchise Retail Trade Conference.
“There’s going to be a lot of breakout sessions, there’s going to be exhibits as well. There’s going to be information on trade and how to connect with other Filipinos abroad, in order to make franchising a reality,” said Neil Estrada.
The four-day conference gave a chance for Filipino American businesses a chance to study franchise opportunities in the Philippines.
Hoping to encourage franchising for both Philippine-based companies doing business in the US, and also for American investors looking to expand into the Philippines.
“We’re hoping to bring together the Filipino American Business community and more of the mainstream community and help expand both into the Philippines and then expand here there’s a lot of growing businesses,” said Craig Wilson.
For the chamber, they believe that exploring the opportunities which can cost as little as five thousand dollars to start, and can empower families in the Philippines.
“Instead of just sending money directly to their families, in the Philippines they can set up a business for their families in the Philippines by buying franchises these are things we offer as an opportunity for our Filipino American businesses here,” said Gerry Palon.
Both local and Philippine officials welcomed the conference believing that economic growth on both sides of the Pacific Ocean makes set the stage for good business.
“Our city’s economy is the third largest in world performance, only ranking behind Tokyo and New York. LAX is now the fourth busiest airport in the world and the number one destination in America with 70 new international nonstop flights, launched since 2013. The port of Los Angeles is the busiest port in the Western Hemisphere,” said Migue Sangalang, Los Angeles Deputy Mayor.
“The Philippines has become an engine at hand with the highest growth in Asia with the highest growth rate of 6.7% registered in 1st quarter of 2018,” said Los Angeles Philippine Consul General Adel Cruz.
The Philippine Consulate says it will continue to work with community group in business partnerships throughout this year.